Edo: NDLEA raises alarm over food shortage as farmers turn to cannabis cultivation

The Edo State Command of the National Drug Law Enforcement Agency, NDLEA, has raised an alarm over the potential threat of food shortage, warning that farmers have abandoned food production in favour of cannabis cultivation in the state.

Edo State Commander of the NDLEA, Dr Mitchell Ofoyeju, raised the concerns on Tuesday, at the Edo Central Senatorial District Town Hall meeting organised by Senator Joseph Ikpea at Uromi, Esan North-East Local Government Area.

Ofoyeju noted that if drastic actions are not taken to address the huge trend the people may experience acute food shortages as few arable land would be available for farming activities.

The Edo State NDLEA Commander who spoke on the topic, “Cannabis Cultivation and Rural Insecurity in Edo Central”, lamented  that forestlands once meant for agriculture have been converted into cannabis plantations.

While decrying the escalating threat posed by cannabis cultivation in Edo State, he described the development as a catalyst for kidnapping, arms proliferation, cultism and youth exploitation.

He added that cannabis cultivation would also negatively contribute to environmental pollution.

According to him, what started as hidden plots has grown into large-scale cannabis farms and a chain of insecurity. Where cannabis takes root, crime follows, and where cannabis grows, development dies.

“Cannabis cultivation has created a violent ecosystem that threatens the very fabric of rural communities”, he said.

He, however, advocated for an effective drug control strategy to reduce the problem of crime by fifty percent, noting that most criminal acts are perpetrated under the influence of drugs.

Ofoyeju, in the presentation highlighted a troubling nexus between cannabis farms and criminal enterprises, including arms proliferation, displacing legitimate food farming, and exploiting vulnerable youths.

He posited that legitimate farmers in the state live in constant fear of attack, preventing them from accessing licit farmlands.

“The result has been a dangerous abandonment of food production in favour of cannabis cultivation, coupled with significant environmental pollution.

“Equally worrisome is the devastating health impact of substance abuse, such as severe damage to major organ systems, including the brain, heart, lungs, liver, and kidneys,” he added.

The State NDLEA boss while linking  drug use to the rise of cultism and violent criminality in the state, stated that drugs make cult members bold and reckless.

“They stop caring about human life or rules. Substances like tramadol, codeine, cocaine, heroin and methamphetamine are fuelling brutal rival clashes and organised gang groups, including kidnapping, extortion, cultism and gun running.

He, however, unveiled a multi-pronged strategy centred on community ownership and engagement, following the people’s response to the growing threat of illicit drugs usages.

He listed the approach to include the establishment of confidential intelligence networks within communities, quarterly stakeholder forums involving traditional rulers, youth leaders, and women’s groups.

Others are joint operations to destroy cannabis farms, skill acquisition and start-up grants with tool kits for those ready to embrace alternative livelihoods.

Ofoyeju, who called on stakeholders to own the fight against drug trafficking, assured that the Command under his leadership would continue to ensure that the State is safe, and  drug-free.

He further assured of the Command’s commitment  to protecting forests from cannabis plantations and securing the future of the youths.

In his remarks, Senator Joe Ikpea, who is the Senate Committee chairman on Drugs and Narcotics, thanked the commander for the insightful presentation.

“I am delighted with this presentation on a topical issue affecting all segments of society. While my committee is working hard to address the drug problem in the country, I will ensure that my constituency is free from the ravaging effects of drugs”, he said.

T-bill yields ease as investors target N700bn CBN auction

CBNNigerian treasury bill yields edged lower on Monday as investors increased demand for short-term government securities ahead of the Central Bank of Nigeria’s N700bn primary market auction and the release of fresh inflation data.

The buying interest pushed yields lower across different segments of the treasury bill curve, reflecting stronger demand for fixed-income assets amid expectations that inflation will continue to moderate.

The average treasury bill yield fell by three basis points to 18.09 per cent on Monday, extending the bullish sentiment that has characterised the fixed-income market in recent sessions.

At the mid-section of the curve, demand was particularly strong for 4 February 2027 and 18 February 2027 maturities, whose yields declined by 24 basis points and 19 basis points respectively.

The 8 July 2027 treasury bill was quoted at 17.00 per cent/16.90 per cent, while the 29 July 2027 paper traded at 17.15 per cent/17.00 per cent.

The movement comes against the backdrop of a relatively high interest-rate environment, with the CBN’s benchmark interest rate at 26.50 per cent, while headline inflation has eased to 15.91 per cent.

The decline in inflation has improved the real return available to investors in government securities, strengthening the appeal of treasury bills as investors reassess the returns available across naira-denominated assets.

Market participants expect demand for treasury bills to remain firm as investors position ahead of Wednesday’s auction. The CBN is scheduled to offer N700bn across the standard treasury bill tenors, with analysts expecting the auction to attract bids above the amount on offer.

However, expectations regarding the auction’s stop rates remain divided.

While some market participants anticipate a repricing of the 364-day treasury bill following the CBN’s recent adjustment of rates, others expect the apex bank to maintain relatively stable rates at the auction.

The latest market trend suggests that investors are willing to lock in current yields before any potential changes in auction pricing or further moderation in inflation.

The average benchmark treasury bill yield had already declined to 18.12 per cent last Friday, from 18.23 per cent a week earlier, indicating a gradual easing in market yields.

Analysts expect liquidity conditions and investor demand for relatively high-yielding government securities to remain key drivers of the market in the near term, particularly as investors balance the opportunity to lock in current returns against expectations of further disinflation.

“Investors are showing stronger interest in treasury bills as yields remain attractive relative to inflation. With inflation easing, the current real return is becoming more appealing, so demand could remain strong at the auction,” an emerging markets analyst, Ike Ibeabuchi, noted.

Stanbic IBTC alerts NGX to possible H1 filing delay

Stanbic IBTC alerts NGX to possible H1 filing delayStanbic IBTC Holdings Plc has notified the Nigerian Exchange Limited and its stakeholders of a potential delay in filing its Audited Financial Statements for the half-year ended 30 June 2026.

The financial holding company disclosed this in a regulatory statement signed by its Group Company Secretary, Chidi Okezie, and published on the NGX portal on Tuesday.

According to the group, the delay may prevent the submission of the H1 2026 results by the statutory regulatory deadline of 28 August 2026.

The group explained that it was currently finalising the audit of its half-year results, after which it would seek necessary approval from its primary regulator, the Central Bank of Nigeria, before releasing the scorecard to the investing public

The statement read, “This is to inform Nigerian Exchange Limited as well as our Esteemed Stakeholders that Stanbic IBTC Holdings Plc may experience a delay in filing its Audited Financial Statements for the Half Year ended 30 June 2026, by the due date of 28 August 2026.

“The company is currently finalising the audit of its 2026 Half Year Results, following which we would also be seeking the required regulatory approvals.

“We are working diligently to ensure that our company’s 2026 Audited Half Year Financial Statements are submitted to NGX as soon as we have received all required regulatory approvals, and this may occur before or shortly after the regulatory due date of 28 August 2026.”

The company assured shareholders and the market that all efforts were being made to expedite the process and publish the financial statements around or shortly after the regulatory timeline.

Under NGX post-listing rules, quoted companies are required to submit their quarterly and half-year interim reports within 30 to 60 days following the end of the period. However, commercial banks and financial holding institutions that undergo full interim audits are subject to regulatory clearance from the CBN before public release, often necessitating formal notifications to the market when review timelines extend beyond standard submission dates.

Stock market sheds N1tn amid renewed bearish trading

NGXThe domestic equities market closed Tuesday’s trading session on a bearish note, as price depreciation in MTN Nigeria Communications Plc and 25 others dragged the overall market capitalisation lower by N1.17tn.

Consequently, the All-Share Index dropped by 1,806.18 points, or 0.73 per cent, to close at 246,723.57. Similarly, the market capitalisation shed N1.17tn to settle at N159.26tn.

The downturn was primarily driven by sell-offs in large- and medium-capitalised stocks, including MTNN, UACN, Dangote Sugar Refinery, Nigerian Aviation Handling Company, and First Holdco.

Despite the broader market decline, market breadth closed positive with 27 gainers against 26 losers.

FTN Cocoa topped the gainers’ chart, appreciating 9.88 per cent to close at N8.90 per share. C&I Leasing followed with an 8.26 per cent gain to close at N5.90, while Sovereign Trust Insurance rose 6.74 per cent to finish at N1.90 per share.

Regency Alliance Insurance gained 6.33 per cent to close at 84 kobo, while Universal Insurance advanced 6.02 per cent to close at 88 kobo per share.

Conversely, Thomas Wyatt Nigeria led the losers’ chart, dropping 9.97 per cent to close at N2.89 per share. AVA Capital followed with a 9.60 per cent decline to settle at N8.95, while International Energy Insurance lost 6.32 per cent to close at N4.00 per share.

International Breweries fell 5.98 per cent to close at N11.00, while Guinea Insurance declined 5.13 per cent to close at 74 kobo per share.

Activity levels spiked sharply as total volume traded jumped 270.4 per cent to 3.91 billion units, valued at N32.38bn and exchanged in 45,608 deals.

Trading in the shares of Fortis Global Insurance dominated the activity chart with 3.29 billion shares valued at N9.58bn. Trans-Nationwide Express followed with 84.58 million shares worth N181.90m, while Access Holdings traded 66.13 million shares valued at N1.87bn.

Consolidated Hallmark Holdings traded 54.34 million shares valued at N379.42m, while Fidelity Bank transacted 46.86 million shares worth N1.02bn.

NPS processes 26.55m transactions worth N1.4tn

NPS processes 26.55m transactions worth N1.4tn

The rollout of Nigeria’s new sovereign digital infrastructure, the National Payment Stack, has recorded rapid commercial adoption in its early operational phase, processing 26.55 million transactions valued at N1.4tn across 48 participating institutions.

Developed by the Nigeria Inter-Bank Settlement System Plc to modernise the nation’s financial ecosystem, the multi-currency architecture bridges transaction processing and payment intelligence while consolidating payments, identity, and data onto a single rail designed to succeed the legacy NIBSS Instant Payment system.

Commercial banks and fintechs are already driving significant scale across the network. First Bank of Nigeria currently leads the industry in total transaction volume processed on the new platform, while Fidelity Bank holds the top spot for overall transaction value. Other major early adopters powering network activity include Guaranty Trust Bank, Sterling Bank, Access Bank, and Moniepoint.

The platform introduces structured ISO 20022 data architecture, enabling metadata-rich transactions that automate corporate reconciliation, streamline merchant collections, and power request-to-pay invoicing. It also unifies single transfers and high-volume corporate disbursements onto one rail, backed by embedded security features such as automated sanction screening, account validation, end-to-end encryption, and in-flight risk scoring to flag potential fraud before execution.

Highlighting the transformative impact of the new infrastructure, the Managing Director and Chief Executive Officer of NIBSS, Premier Oiwoh, emphasised the platform’s role in shifting the national payments landscape towards deeper intelligence and efficiency.

He said, “The National Payment Stack represents an economic catalyst moving our financial infrastructure from basic transaction processing to comprehensive payment intelligence.

“By delivering an ISO 20022-compliant, multi-currency rail, we are laying the groundwork for unprecedented interoperability, heightened security, and seamless regional trade.”

Complete ecosystem readiness now depends on full participant alignment across technical and operational domains, with NIBSS urging all financial services institutions to activate related debit and credit processing rails to prevent platform congestion.

Supporting this transition, the Director of Payments System Supervision at the Central Bank of Nigeria, Dr Rakiya Yusuf, reaffirmed the apex bank’s full regulatory backing for mandatory integration as the sector prepares for the ultimate decommissioning of the 15-year-old legacy NIP rail.

Osun guber: You can’t kill same people you want to govern – Dantalle warns politicians

National Chairman of the Inter-Party Advisory Council, IPAC, Yusuf Dantalle, has expressed concern over the rising cases of electoral violence in Osun State ahead of the August 15 governorship election.

several local government areas in the state have been identified as hotspots for potential election-related violence ahead of Saturday’s poll.

Dantalle cautioned politicians against perpetrating violence against the same citizens they seek to govern, citing the destruction of lives and property in different parts of the state.

Speaking in an interview with Arise News, the IPAC chairman said the council had condemned the incidents and warned key stakeholders, including political actors, the Independent National Electoral Commission, INEC, security agencies and traditional rulers, to prioritise the interests of the people of Osun State.

He said, “We have continued to condemn these actions and also alert various stakeholders, including political actors, INEC as the electoral umpire, security agencies and traditional leaders, on the need to prioritise the interests of the people of Osun.

“It is unacceptable to harm the people you intend to govern. There have been several incidents involving the destruction of lives and property, as well as protests and counter-protests.

“We want to advise all stakeholders involved in the Osun election that this is a deviation from the principles and ethics of democracy, which is fundamentally about allowing the people to freely and fairly choose their leaders, with the outcome respected and accepted by all.

“This situation is indeed troubling, and I would like to use this opportunity to urge all stakeholders to exercise caution.

“Those who use state institutions to intimidate or harass political opponents must desist and allow the people to make their own choices.

“If we allow such actions to continue, we must consider their implications for the general elections just a few months away. It could be a foreshadowing of what we may encounter in the 2027 elections.

“We must exercise extreme caution to avoid undermining the progress we have made.”

Osun 2026: Why Adeleke deserves second term – Dele Momodu

A chieftain of the African Democratic Congress, ADC, Dele Momodu, has said that Osun State Governor, Ademola Adeleke, deserves a second term in the August 15 governorship election in the state.

In a post on his verified X handle on Tuesday, Momodu said the All Progressives Congress, APC, had turned Osun State into a theater of war.

According to him, the only sensible strategy was for all opposition parties to align immediately and back the Accord Party candidate and incumbent governor, Adeleke.

The publisher of Ovation Magazine also said that Governor Adeleke had been a global phenomenon who would easily defeat President Tinubu himself in a popularity contest.

“I make this declaration without equivocation, or any fear of contradiction. This is not based on friendship or family ties.

“Adeleke is the best amongst Nigerian Governors, in order of extraordinary performance in infrastructure, health, education, staff welfare, labour unions, agriculture, commerce, culture, women empowerment, youth integration, and so on.

“We should never supply the APC an easy alibi to rig the Osun gubernatorial election on August 15, 2026. God bless the Federal Republic of Nigeria,” he tweeted.


	
After four months in darkness, Taraba community cries out over prolonged power outage

Residents of Mika Sabon-Gida community in Pupule ‘B’ Ward, Yorro Local Government Area of Taraba State, have raised the alarm over a prolonged power outage that has left the community without electricity for more than four months.

The residents, who spoke with DAILY POST, appealed to the Taraba State Government, Yola Electricity Distribution Company (YEDC), elected representatives, philanthropists and other relevant stakeholders to urgently intervene and restore power to the area.

The prolonged blackout, reportedly caused by a faulty transformer, has severely disrupted economic activities and negatively affected the livelihoods and general well-being of residents.

A community leader, Jauro Baki, while appealing to the authorities and well-meaning individuals for support, called for urgent action to address the electricity crisis.

“We are calling on the state government, YEDC and other well-to-do individuals and our elected politicians to come to our aid by ensuring that power is restored to our community.”

For many residents, the impact of the blackout extends beyond the inconvenience of living without electricity, as businesses that depend on regular power supply have been forced to shut down or operate at significantly reduced capacity.

Andrew Helikiah, another resident, said the prolonged outage had contributed to the relocation of some young people from the community after their businesses became increasingly difficult to sustain.

“Because of this, most of our young men and women have relocated from this community to somewhere else because their small businesses are no longer functioning due to the prolonged power outage,” he said.

Also speaking on behalf of the residents, Alhaji Babangida Aliyu Mika Mika, a community representative and former Special Adviser to the Executive Chairman of Yorro Local Government Area, described the situation as increasingly unbearable.

Mika said the faulty transformer was particularly important because it serves not only Mika Sabon-Gida but also provides a critical electricity link to communities around Yorro and Zing Local Government Areas.

He therefore urged the authorities to consider the electricity crisis a matter of wider public interest and urgently provide a replacement transformer.

“Our businesses are dying, and the economic growth of our people has been completely undermined. We have endured over four months without a functional power supply.

“We are calling on the relevant authorities to facilitate the immediate provision of a new transformer to bring life back into our community’s economy,” he said.

Residents said families and business owners had been placed under considerable economic pressure as a result of the blackout, with many forced to depend on alternative sources of electricity, which they described as expensive and unsustainable.

For small-scale businesses, artisans and other economic operators, the absence of reliable electricity has made it increasingly difficult to maintain productivity, operate efficiently and sustain livelihoods.

The community is consequently calling on the Taraba State Government, electricity authorities, elected representatives and other stakeholders to treat the situation as an urgent public-interest matter.

They urged the authorities to facilitate the immediate replacement of the faulty transformer and restore electricity to Mika Sabon-Gida and surrounding communities.

According to the residents, restoring power would not only ease the hardship currently being experienced in Pupule ‘B’ Ward but would also help revive economic activities in neighbouring communities along the Yorro-Zing axis.

Alhaji Babangida Mika also expressed appreciation to government representatives and other stakeholders for their previous interventions in providing essential services aimed at improving the welfare of communities across Yorro LGA.

He, however, appealed for renewed and urgent action to address the electricity crisis, stressing that residents could no longer afford to remain in darkness after more than four months without a functional power supply.

Meanwhile, a senior YEDC officer in Taraba State, who spoke on condition of anonymity, said the company had concluded plans to provide the community with a new transformer.

The officer, who directed our reporter to the company’s headquarters in Yola, the capital of Adamawa State, said YEDC was aware of the situation and was working to restore electricity to the community.

“YEDC is aware that the transformer in Mika Sabon-Gida community in Yorro Local Government Council has been down, and the company has been working round the clock to replace it.

“Though I am not in a position to speak to the press on the issue because our spokesperson is based in Yola, I can assure you that plans are already in the pipeline to restore power to the community,” he said.

 

Lagos Assembly seeks stronger community security, prosecution of infrastructure vandals

Lagos State House of Assembly has called for stronger community-based security measures and tougher prosecution of individuals involved in the vandalism of public infrastructure across the state.

The lawmakers made the call during Monday’s plenary, urging the state government to strengthen and adequately equip the Lagos State Neighbourhood Safety Corps and other community security structures to improve surveillance and prevent the destruction of roads, bridges and other public facilities.

The Assembly also stressed that the prosecution of infrastructure vandals should extend beyond those who physically remove public property to individuals and businesses that purchase, sell or profit from stolen government assets.

The lawmakers’ position followed a motion moved by the member representing Ikorodu II, Moshood Aro, who raised concerns over the increasing vandalism of public infrastructure, particularly in FESTAC.

Aro said the destruction of infrastructure funded with taxpayers’ money effectively imposed additional financial pressure on residents because government would have to spend more money repairing or replacing damaged facilities.

“It baffles me that some residents of Lagos ought to be experiencing this kind of situation, knowing that we are paying for these facilities with our money,” he said.

He argued that the government should not be forced to repeatedly commit public funds to infrastructure because facilities already provided for residents were being vandalised.

“Public funds are being used to provide these facilities, and when they are damaged or vandalised, public funds are again required to repair them. This places an additional burden on taxpayers,” Aro added.

The lawmaker called for increased scrutiny of individuals and businesses involved in the scrap trade, particularly those who purchase materials suspected to have been removed from public infrastructure.

According to him, disrupting the market for stolen government property was essential to addressing the root of infrastructure vandalism.

Aro urged security agencies and relevant authorities to ensure that suspects arrested over the destruction of public facilities were properly prosecuted.

“Persons arrested for vandalising public infrastructure should not be released without proper prosecution and, where found guilty, should be sentenced accordingly,” he said.

He further called for closer cooperation among government agencies, security organisations and communities to develop a more effective response to the problem.

“We, as citizens and representatives of the people, need to take this matter seriously. All the relevant agencies need to sit down, collaborate and respond appropriately to these challenges,” Aro said.

Supporting the motion, the Speaker of the House, Mudashiru Obasa, called for stronger enforcement against both vandals and those facilitating the illegal trade in stolen public materials.

Obasa also urged ministries, departments and agencies responsible for environmental and infrastructure enforcement to ensure that relevant laws were properly communicated and effectively implemented.

He advocated increased government support for local security structures, including the Neighbourhood Watch and Lagos State Neighbourhood Safety Corps, arguing that better funding and resources would enable them to identify suspicious activities and prevent criminal acts within communities.

The lawmakers emphasised that the state’s response should combine prevention, surveillance and prosecution, rather than relying solely on arrests after infrastructure has already been damaged.

They said adequately trained and equipped community security personnel could provide valuable intelligence and early warnings, while the police and other relevant agencies would handle criminal investigations and prosecution.

Contributing to the debate, Lawal Olumegbon urged the Lagos State Government to strengthen cooperation with the 20 local government areas and 37 local council development areas in tackling infrastructure vandalism at the grassroots.

Similarly, Stephen Ogundipe said the problem extended beyond a particular constituency, noting that communities across Lagos were experiencing the damaging effects of the destruction of public infrastructure.

NANS secures release of detained Polytechnic Ibadan students after EFCC operation

The National Association of Nigerian Students (NANS) has secured the release of all detained students of The Polytechnic, Ibadan, following an EFCC operation in which the students were arrested.

NANS said it intervened to ensure that the affected students could participate in their ongoing examinations.

The intervention, according to a statement issued on behalf of the association on Tuesday by the Chief Press Secretary, Office of the National Financial Secretary, NANS, Kamaldeen Ilias A, was led by the National Financial Secretary of NANS, Alao John Oluwadamilola, alongside the Student Union President, Fagbemi Nurudeen Ojo, and other members of the student union cabinet.

“NANS delegation engaged relevant authorities after receiving concerns over the detention of students of the institution, with particular emphasis on protecting the students’ academic interests during the ongoing examination period,” the statement read.

According to NANS, the intervention was necessitated by concerns that the detention could disrupt the students’ ability to sit for examinations for which they had prepared.

Following the engagement, the detained students were released, allowing them to return to their academic responsibilities and participate in their examinations.

NANS commended the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), particularly the Zonal Director, ACE I Haauwa Garba Ringim, for what the association described as an understanding of the concerns raised by the student body.

“The development underscored the importance of constructive engagement between student leaders and law enforcement agencies, particularly in situations where investigations could affect students’ academic progression,” the student body said.

NANS maintained that while legitimate investigations and the fight against financial crimes remain important, such processes should, where possible, be handled in ways that minimise unnecessary disruption to students’ education.

The association also appreciated the management of The Polytechnic, Ibadan, and other individuals who contributed to facilitating the students’ return to their examinations.